FirstSun Capital Bancorp (NASDAQ:FSUN) Cut to "Sell" at Wall Street Zen

Key Points

• Wall Street Zen downgraded FirstSun Capital Bancorp from “hold” to “sell,” adding negative sentiment to the stock.
• The shares were down 7.5% in midday trading, falling to $35.08 on heavier-than-normal volume.
• Despite the downgrade, broader analyst coverage remains relatively positive, with a consensus “Buy” rating and a $44.00 target price, while the company recently missed quarterly EPS estimates.

FirstSun Capital Bancorp (NASDAQ:FSUN - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued on Sunday.

Other analysts have also recently issued reports about the stock. Weiss Ratings raised shares of FirstSun Capital Bancorp from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, July 1st. Piper Sandler set a $45.00 price objective on shares of FirstSun Capital Bancorp in a report on Wednesday, April 29th. Stephens dropped their target price on shares of FirstSun Capital Bancorp from $44.00 to $43.00 and set an "overweight" rating for the company in a research report on Wednesday, April 29th. Zacks Research upgraded shares of FirstSun Capital Bancorp from a "strong sell" rating to a "hold" rating in a research note on Monday, June 29th. Finally, Raymond James Financial reaffirmed a "strong-buy" rating on shares of FirstSun Capital Bancorp in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, FirstSun Capital Bancorp has a consensus rating of "Buy" and a consensus target price of $44.00.

FirstSun Capital Bancorp Stock Down 7.5%

FSUN stock traded down $2.85 during midday trading on Friday, hitting $35.08. 604,505 shares of the company's stock were exchanged, compared to its average volume of 336,770. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.10. FirstSun Capital Bancorp has a 12-month low of $29.95 and a 12-month high of $42.34. The firm has a 50 day moving average price of $36.44 and a 200-day moving average price of $37.38. The stock has a market capitalization of $1.64 billion, a price-to-earnings ratio of 10.35 and a beta of 0.31.

FirstSun Capital Bancorp (NASDAQ:FSUN - Get Free Report) last announced its earnings results on Monday, April 27th. The company reported $0.84 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.90 by ($0.06). The business had revenue of $109.95 million during the quarter. FirstSun Capital Bancorp had a net margin of 16.52% and a return on equity of 8.80%. On average, analysts anticipate that FirstSun Capital Bancorp will post 3.52 EPS for the current year.

Hedge Funds Weigh In On FirstSun Capital Bancorp

Large investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. acquired a new stake in shares of FirstSun Capital Bancorp during the third quarter worth $41,000. Royal Bank of Canada boosted its holdings in shares of FirstSun Capital Bancorp by 256.4% in the 1st quarter. Royal Bank of Canada now owns 1,276 shares of the company's stock valued at $47,000 after buying an additional 918 shares during the period. New York State Common Retirement Fund acquired a new position in shares of FirstSun Capital Bancorp in the 2nd quarter valued at about $139,000. Quantbot Technologies LP grew its position in shares of FirstSun Capital Bancorp by 508.9% during the 2nd quarter. Quantbot Technologies LP now owns 4,871 shares of the company's stock valued at $169,000 after buying an additional 4,071 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new position in FirstSun Capital Bancorp in the fourth quarter worth about $214,000.

About FirstSun Capital Bancorp

FirstSun Capital Bancorp engages in the provision of commercial banking services. It operates through the following segments: Banking, Mortgage Operations, and Corporate. The Banking segment consists of loans and provides deposits and fee-based services to consumer, business, and mortgage lending customers. The Mortgage Operations segment originates, sells, services, and manages market risk from changes in interest rates on one-to-four family residential mortgage loans to sell and hold. The company is founded on November 9, 1981 headquartered in Denver, CO.

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